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@GordianKnot:
Your assumption, "If COLA's are the driving force behind the unfunded liability and COLA'S need to be frozen then the municipal plan is in good shape since there has not been 1 since 2009", is wrong. Here is why.
Using my credit card example from my first post:
If one of the cards has a $100,000 balance on it and because the balance is so high I decide to not make any future charges on it so I don't increase the outstanding balance; that doesn't mean my finances are in good shape. It means that whatever the balance on the card is, it still needs to be paid regardless if other issues arise that require funding from my current budget. It also means that I may not have the funds available from my annual budget for those other needed purchases or repairs.
Please explain the inappropriate content below.
